医药板块基本面继续改善，关注医药ETF(512010)和恒生创新药ETF(159316)等产品投资价值

Group 1 - The pharmaceutical sector is experiencing a rebound with strong capital allocation intentions, as evidenced by the medical ETF (512010) receiving a net inflow of 400 million yuan over four consecutive trading days, and the Hang Seng Innovation Drug ETF (159316) attracting over 1.6 billion yuan in the past month [1] - The pharmaceutical and biotechnology sector reported a year-on-year net profit growth of 7.7% in Q3 2025, with a gross margin maintained at 31.4%, showing a clear trend of improvement [1] - Innovative drugs are leading the industry, with several companies achieving high growth in performance due to the commercialization of innovative drugs and the confirmation of upfront payments for business development overseas [1] Group 2 - Analysts believe that the pharmaceutical sector is poised for a valuation recovery in Q4, driven by multiple catalysts including performance recovery and policy support, alongside a loose overseas liquidity environment [1] - The medical ETF (512010) tracks the CSI 300 Healthcare Index, reflecting the overall performance of leading pharmaceutical stocks in the A-share market, while the Hang Seng Innovation Drug ETF (159316) focuses exclusively on innovative drug companies in the Hong Kong stock market [1] - Other related ETFs managed by E Fund include the E Fund Innovation Drug ETF (516080) and the Hong Kong Stock Connect Medical ETF (513200), providing investors with diverse options to invest in leading pharmaceutical companies in both A and H shares [1]